Oryx are delighted to announce the refinancing of the 3 Bunhill Row investment with a sharia-compatible debt facility provided by Riyad Bank. The five-year facility, amounting to c.£64m, enabled equity to be crystallised and provides long-term stability for the asset. Oryx are looking forward to working closely with Riyad Bank and are actively seeking to acquire further assets in Central London and across the UK.
Oryx Real Estate Partners (“Oryx”), together with Trinova, have successfully refinanced the Greater London portfolio (Helios Court in Hatfield, Centrium 2 and Centrium 3 in St Albans) with a sharia-compliant facility provided by Ahli United Bank (UK) PLC. The refinancing optimises the capital stack and enables a considerable portion of equity capital to be returned to the investors. Oryx are looking forward to working closely with Ahli United and are actively seeking to add to this portfolio of well-situated and well-let office properties in and around the Greater London area.
On behalf of one of its deal-specific funds, Oryx has acquired the shares in the company owning 3 Bunhill Row, a freehold office property fully let to the international law firm Trowers & Hamlins.
3 Bunhill Row was developed by Helical Bar and comprises c.101,500 sqm of office space across lower ground, ground and seven upper floors. The freehold property is in a prime location, close to Moorgate station, between the Cass Business School and Slaughter and May’s offices. It is fully let to Trowers & Hamlins on an FRI-basis until January 2031. The investment forms part of Oryx’ income strategy but has asset management potential in the medium- to long-term.
Oryx together with Trinova have completed the acquisition of Centrium 2 and Centrium 3 located in St Albans, as part of Oryx’ Greater London diversified office strategy.
Situated just off the high street and opposite the open green spaces of Verulamium Park, the building benefits from a wide range of amenities, including great transport connections. Centrium 2 is wholly let to Premier Foods PLC, whilst Centrium 3 is wholly let to Skechers UK, and both buildings serve as headquarters for the respective occupiers and comprise a total of over 47,000 sq. ft. of office space.
James Welham has joined the firm as Oryx’ Finance Manager. James joins Oryx from the Finance team at Nuveen Real Estate (and prior to that, Henderson Global Investors). James assists with the management of the firm’s financial and operational control environment across both the fund products and the corporate entities, and he is a member of the Chartered Institute of Management Accountants.
Sarah Cooper has joined Oryx as Head of Asset Management. Prior to this she was a Portfolio Manager for Catalyst Capital and has considerable experience in both core, core+ and value-add / opportunistic asset management. Sarah has worked across the UK in all commercial sectors and is qualified as a member of the Royal Institution of Chartered Surveyors
Following the successful acquisition of Peugeot’s UK HQ, Oryx has completed the 60% LTV refinancing and drawdown of a sharia-compliant debt facility for the purposes of the long-term financing of the asset.
Oryx has successfully advised a Middle Eastern investor on the disposal of a c.336,000 sq. ft. fully let logistics property located north of the logistics “Golden Triangle” in the UK.
Through one of its deal-specific funds, Oryx has acquired Peugeot’s UK HQ in Coventry. The acquired property comprises a 14-acre land plot with two separate buildings, a c.106,700 sq. ft. office, and a c.59,100 sq. ft. industrial warehouse, both fully leased to Peugeot for another eleven years, with two RPI-linked rent reviews remaining. This acquisition forms part of Oryx’ income strategy and was acquired on an all-equity basis, with capital sourced from the existing investor base.
Nicolas Zavvos has joined Oryx as an Associate to support the team to execute its real estate investment strategies and assist in the asset management of the existing portfolio.
Prior to joining Oryx, Nicolas was an Investment Analyst at Resolution Property, a London based, pan-European, value-add investor. Nicolas previously worked for Zeus Capital Management in Athens, where he focused on commercial and residential real estate acquisitions in Central and Eastern Europe.